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Androscoggin County/Hebron/04238

04238

ZIPSAFMR
Androscoggin County, ME
Zillow

ZIP Investment Score

81Below average

095130300
BRFMR
Eff. Rent
0 BR$1,030$1,030
1 BR$1,130$1,130
2 BR$1,460$1,460
3 BR$2,000$2,000
4 BR$2,410$2,410
5 BR$2,772Not available
6 BR$3,187Not available
7 BR$3,665Not available
8 BR$4,215Not available

Purchase Price Calculator

Maximum purchase price
$155,039

Cost breakdown

+Likely effective rent$1,460
HUD FMRUsed$1,460
Market rentN/A
Est. payment standardN/A
-Principal and interest-$784
Loan amount$124,031
Down payment$31,008
Rate6.50%
Term30 years
-Operating costs-$476
Property taxes-$155
Insurance-$175
Utilities$0
HOA$0
Management-$146
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,565(76.0% ROI)
Projected value
$166,960
Return breakdown
Property appreciation+$11,921
Loan principal paid down+$4,444
Rental cash flow+$7,200
5-year hold
+$40,298(130.0% ROI)
Projected value
$175,412
Return breakdown
Property appreciation+$20,373
Loan principal paid down+$7,924
Rental cash flow+$12,000
10-year hold
+$86,306(278.3% ROI)
Projected value
$198,463
Return breakdown
Property appreciation+$43,424
Loan principal paid down+$18,882
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 04238 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04238 (Hebron, ME) is $1,460 a month. That is down 4.6% from $1,530 in FY 2026. Hebron is in the Lewiston-Auburn, ME MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,677. Among 29 ZIP codes in Androscoggin County, 04238 has the 26th-highest two-bedroom rent (county range $1,430–$1,970). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04238 is 7% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04238
BedroomsFY 2027Change90–110% range
Studio$1,030−3.7%$927–$1,133
1BR$1,130−3.4%$1,017–$1,243
2BR$1,460−4.6%$1,314–$1,606
3BR$2,000−3.8%$1,800–$2,200
4BR$2,410−2.0%$2,169–$2,651

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04238
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,030$1,130$1,460$2,000$2,410
FY 2026$1,070$1,170$1,530$2,080$2,460
FY 2025$980$990$1,300$1,700$2,180
FY 2024$750$880$1,110$1,460$1,630
FY 2023$750$830$1,060$1,390$1,580

Two-bedroom rent in nearby Androscoggin County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 04238
04223$1,680+15.1%
04228$1,680+15.1%
04230$1,680+15.1%
04236$1,770+21.2%
04238Current$1,460—
04239$1,430−2.1%
04240$1,650+13.0%
04241$1,680+15.1%
04243$1,680+15.1%
04250$1,740+19.2%
04252$1,970+34.9%
04253$1,480+1.4%

Questions about ZIP 04238 rents

How much will Section 8 pay for a two-bedroom in ZIP 04238?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,677, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,509 to $1,845 a month; under the ZIP-level Small Area FMR of $1,460 it would be $1,314 to $1,606. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 04238 in?

ZIP 04238 is in the Lewiston-Auburn, ME MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,677.

How much did fair market rent change in ZIP 04238 for FY 2027?

The two-bedroom FMR fell 4.6%, from $1,530 in FY 2026 to $1,460 in FY 2027. Since FY 2023 it has risen 37.7%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentHebron, ME fair market rentME statewide rentsWhat is SAFMR?Data sources